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On the Crude Truth Substack, Rey Trevino writes:
Secretary Chris Wright provided a comprehensive summary of the first 100 days of the Trump administration’s energy initiatives during the cabinet meeting today. As an oil and gas exploration company, we are encountering various perspectives.
President Trump has been saying that we need to “Drill, baby, Drill,” and we are facing increased costs in supply chain materials. We are now seeing some relief in the regulations mentioned. If I did not examine each well independently and evaluate its drilling profitability, we would not be able to return money to our investors or consider drilling new wells.
In my opinion, we are heading in the right direction, and I am glad I am a family-owned operator in Texas providing good jobs and delivering low-cost energy to the Texas and U.S. market, and not in California. The Trump administration has its work cut out for it working with California, as they have cut their drilling permits down an estimated 95% from previous years. They are shutting down refineries, and we will see $8.00 gasoline as the starting point.
I have several podcast guests lined up to discuss this issue soon.
Here are Chris’s top points.
• Oil, gasoline, and diesel prices are the lowest in years, saving American consumers
• Enabling more affordable and abundant energy is critical for emerging industries like AI to thrive and for manufacturing to be restored
- Exporting a nuclear reactor to Poland is huge!
• Liquefied natural gas has become the second-largest U.S. Export and will soon be the largest, providing a competitive advantage and boosting the trade balance
• The administration’s pro-energy policies have enabled American businesses and technology to partner with European nations, making them more prosperous and secure
• The return of common sense has been welcomed across the country and the world, as the administration delivers on its promises with fewer resources and a more efficient, fiscally responsible approach.
U.S. LNG will be the United States’ largest export product – @SecretaryWright –
This is what I voted for –
Here are Chris’s top points.
• The tremendous impacts of unleashing American energy in the first 100 days of the administration:• Oil, gasoline, and diesel prices… pic.twitter.com/u7qcILN0PR
— STUART TURLEY – Energy Podcast Host (@STUARTTURLEY16) April 30, 2025
This is the kind of leadership that we need, and we are not there yet. We need help from our state regulators and the federal regulators to continue clearing the path for the significant expansion and cost-cutting we need.
And that is the Crude Truth.
Secretary Chris Wright’s full response:
On unleashing American energy and a hundred days have shown the tremendous impacts that can arise from the unleashing you have enabled. I’ll give you a few highlights.
Number one, oil, gasoline, and diesel prices are the lowest they’ve been in years.
How does that happen in a hundred days?
That’s a messaging. Your message that we’re pro-energy, we’re not against energy, we are for it. That sends a message to the marketplace that supply is easier to grow now and supply will be coming and that’s already led to tremendous savings for American consumers across the country.
We need not only more affordable energy, but we need a lot more energy. One highlight I think a couple of us have touched on is AI. This is a new emerging critical industry that’s very energy intensive. It is not acceptable for the United States to not be the leader in AI. We must win the AI race and lead in that, and that’s going to take a lot more energy.
If you would not won election, we would not have won the AI Race. Full stop. Energy would not had been there to enable us to win. Reshoring of manufacturing, these trillions of dollars you let off with that’s going to come back to our country to make chips, to make steel, to make automobiles, to artificial intelligence, to make all of these industries we’ve outsourced, that’s only going to be possible with way more American energy. But we have that energy. We have those resources, we have those businesses, we have those capitalists.
We just need to stop standing in the way of them. And follow the lead you’ve set, which is to enable them, not to subsidize them, not to help them, to enable to invest American money and create American jobs here.
Regarding our balance of trade, the second largest export of the United States is liquefied natural gas. Second fastest. In the next few years, it’ll be our largest export in our country. But yet, 18 months ago, the Biden administration had said, we’re going to stop. Issuing permits for new LNG export terminals. That’s just nuts. That is a great competitive advantage we have. Huge balance of trade driver, a huge industry just coiled and ready to go.
I just came back from Poland last night. They are thrilled that America is back in business again and that the rest of Europe can get off of Russian energy and can enable their own economic growth with secure, reliable, affordable energy from the United States.
Also witness the signing ceremony for a deal between two large American businesses to build a huge nuclear power plant in northeastern Poland. The first of this design built in Europe. It’ll be the first of many. I spoke to many other nations over there. They wanna buy more American gas. They wanna get American technology. They wanna have a partnership with us. And they shared. The message
I delivered to Europe in my keynote remarks is that unleashing energy is the way you make your society safer, more prosperous, more free, and that these sort of over the top climate alarmism doesn’t do anything to help the environment of our world, but it does impoverish people, it does reduce the security of your nation, and it makes you weaker. I think that’s a constant message many of us around this table have brought to
We want our friends in Europe standing up again and leaning in. A lot great is happening under your leadership. We’re unleashing consumer products that Americans wanted to buy that Biden was making illegal. I’ll be in Georgia on Friday at Renai’s manufacturing plant. Tankless natural gas water heaters. Incredibly popular product. They almost became illegal. The return of common sense is incredibly welcome across this country, across the world.
And back to Elon. That extra thing, we’re going to deliver all of this with less people, less money, less burden on the U.S. Taxpayers. Not smaller departments and smaller services, better, more thoughtful services done more efficiently and smarter.
The way you’d have to run a business. We’ve got to get our fiscal house in order and you and the people around this table are making it happen. Thank you, Mr. President. I’m honored to be here. Thank you very much.
Source: The Crude Truth Substack
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